Tata Technologies, Gandhar Oil Refinery India, Flair Writing Industries And More

Tata Technologies Ltd. has set the price band for its Rs 3,000-crore initial public offering, ascribing it a post-offering market capitalisation in excess of Rs 20,000 crore.

The November 22-24 IPO, a first from the Tata stable in nearly two decades, is a pure offer-for-sale of 60,850,278 shares at Rs 475-500 apiece, according to a company notice. Parent Tata Motors Ltd. (46,275,000), and investors Alpha TC Holdings Pte Ltd. (9,716,853) and Tata Capital Growth Fund I (4,858,425 ) are offloading stock equivalent to 11.41%, 2.40% and 1.20% stake, respectively.

A portion of the offering, about 10%, is reserved for the employees of Tata Technologies and shareholders of Tata Motors. While qualified institutional buyers can bid for 50% of the net offer, 15% of the Rs 3,000-crore IPO is reserved for non-institutional investors. The rest, about 35%, is for retail investors.

The bid lot size is set at 30 shares and multiples there of.

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